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today’s news for Thursday, June 3, 2021

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NEWS FROM NASFAA

David Sheridan

In a book titled "The Privileged Poor: How Elite Colleges Are Failing Disadvantaged Students," author Anthony Abraham Jack examines how socioeconomic inequities impact students' college experiences both inside and outside the classroom. "The Privileged Poor" can be "a helpful resource as we examine policies on our campus and communicate with colleagues, lawmakers, and regulators about broader policy matters," writes David Sheridan, who read the book and shared his opinions of its content with NASFAA. "It's great to be armed with data and create generous packaging formulas, but to be advocates for the students who need our help the most, we need to better understand the path they took to get to our campuses and what they face once they're here." What follows are his takeaways, thoughts, and reflections.

Top Republican lawmakers are pressing Education Secretary Miguel Cardona for details on the Department of Education’s (ED) plan to smoothly transition millions of student loan borrowers back into repayment when the federal forbearance period comes to an end in the fall. An additional extension of the pause on payments and interest accrual is “unnecessary” and would “actively work against the interests of students and taxpayers,” wrote Sen. Richard Burr (R-N.C.), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) committee, and Rep. Virginia Foxx (R-N.C.), ranking member of the House Education and Labor committee.

The Department of Education (ED) formally canceled its recognition of the long troubled accreditor Accrediting Council for Independent Colleges and Schools (ACICS) on Wednesday. "ACICS’s significant and systemic noncompliance with multiple regulatory recognition criteria leaves me no reasonable option but to terminate its recognition, effective immediately," wrote Jordan Matsudaira, deputy undersecretary for education, in a notice — first reported by USA Today — posted Wednesday to ED's website. Under the Obama administration, ACICS was stripped of its federal recognition largely due to its oversight of the large for-profit college chains Corinthian Colleges and ITT Technical Institute.

NASFAA UPDATES AND ANNOUNCEMENTS

Can you believe it's been two years since we launched Blue Icon Advisors? In that time, we have secured 42 independent consultants, worked with nearly 90 schools on a wide variety of projects, welcomed 88 participants to group coaching, and engaged with over 1,000 colleagues across the country during 75 Let's Talk sessions for the financial aid community. We are continuing to add new services all the time, like the Trusted Advisor Program, a monthly subscription service that allows participants to connect with our consultants as financial aid challenges or questions arise. See what Blue Icon can do for you

NASFAA's Board of Directors is here to represent you and is seeking your input. Please email any questions or comments you might have directly to a member of the NASFAA Board by clicking on their name on our Board Member Bios page. Questions or feedback may pertain to NASFAA products and services, membership benefits, policy/advocacy issues, or any other topic you would like to bring before the Board. The Board will compile and discuss at the June 29-30 virtual Board meeting. We welcome your insight.

It's time to commit to professional development and pursue your FAAC® designation! The last two-week testing window of the 2021-22 year is now open. If your application has already been approved, purchase the certification knowledge exam and schedule your session online. If you haven't applied yet, complete your application online today. Learn more about the testing process and make sure you meet all of the technical requirements. Utilize the Exam Preparation Guide to aid your studies.

If you were unable to join us for the May 19 webinar, Changes Are Coming to R2T4 and Modules, you can still tune in for the on-demand recording. You’ll have full access to the webinar archive and handout. If you attended the live event, you can still use your registration link to access the on-demand event and FAQ document. Order today.

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